Tuesday, May 31, 2011

Tax audits, Kathy Kristof: With the IRS stepping up income tax audits, here's what you need to know - latimes.com

Tax audits, Kathy Kristof: With the IRS stepping up income tax audits, here's what you need to know - latimes.com

It's almost summer — time to think about bathing suits and vacations. But this summer there's an increased chance you'll open the mailbox to find a thick envelope from the U.S. Treasury.

Welcome to audit season 2011.

Blame federal deficits, wealthy tax cheats and petty larceny, all of which have federal tax authorities clucking over what they believe is a yawning "tax gap" between what people owe and what they pay.

Whatever the reason, the federal government is stepping up income tax audits.


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